Godrej Industries Announces Launch Of Financial Services Arm Godrej Capital, To Invest ₹1,500 Cr

GCL is a subsidiary of Godrej Industries and is the holding entity for Godrej Housing Finance (an HFC) and Godrej Finance Limited (an NBFC). With a near-term aim of building an ₹30,000 crore balance sheet by 2026, GIL has committed to invest ₹1,500 crore in capital in the financial services arm, and expects the business to require a total of ₹5,000 crore of equity investment by 2026.

“The company will continue maintaining focus on the growth of secured loans consisting of home loans and Loans Against Property (LAP). Additionally, to fulfil business and geographic aspirations, the business aims to grow its team by 50% to approximately 500 people in this financial year,” the company announced in an exchange filing on Monday.

Godrej Capital currently has its footprint across Mumbai, Bengaluru, Delhi NCR, Ahmedabad, and Pune and will soon be operational in six new cities, i.e., Jaipur, Chandigarh, Hyderabad, Chennai, Indore and Surat.

“We started with home loans in select geographies in 2020. Having seen strong customer acceptance of our offering, we are very optimistic about the prospects of our financial services venture and will be entering new markets and enhancing our reach across key target sectors and consumer segments,” said Pirojsha Godrej, Chairman, Godrej Capital.

Godrej Capital, for scalable operations, is investing in building capabilities through talent, technology and analytics that will power business growth, the company added.

Shares of Godrej Industries were trading 0.5% higher at ₹490 apiece on the BSE in Monday’s afternoon deals.